Capital Management Associates Inc Invests $74,000 in Bumble Inc. (NASDAQ:BMBL)

Capital Management Associates Inc acquired a new stake in shares of Bumble Inc. (NASDAQ:BMBL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,527 shares of the company’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in Bumble in the 2nd quarter worth approximately $64,000. SG Americas Securities LLC bought a new position in Bumble in the third quarter valued at $71,000. Meeder Asset Management Inc. purchased a new stake in Bumble during the second quarter valued at about $82,000. Headlands Technologies LLC bought a new stake in Bumble during the second quarter worth about $94,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bumble in the 2nd quarter worth about $111,000. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMBL. JPMorgan Chase & Co. downgraded Bumble from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $17.00 to $7.00 in a research report on Thursday, August 8th. HSBC restated a “hold” rating on shares of Bumble in a report on Friday, August 9th. Piper Sandler reduced their target price on shares of Bumble from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Citigroup downgraded shares of Bumble from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $12.00 to $6.00 in a research note on Thursday, August 8th. Finally, Stifel Nicolaus downgraded Bumble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $13.00 to $6.50 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.50.

Bumble Trading Down 2.7 %

NASDAQ:BMBL opened at $7.11 on Friday. The company has a 50-day moving average price of $6.62 and a 200-day moving average price of $8.82. The stock has a market cap of $897.27 million, a price-to-earnings ratio of 41.82 and a beta of 1.66. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.45. Bumble Inc. has a 12 month low of $4.80 and a 12 month high of $15.90.

Bumble (NASDAQ:BMBL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. Bumble had a return on equity of 1.82% and a net margin of 3.93%. The business had revenue of $268.60 million for the quarter, compared to analysts’ expectations of $273.04 million. During the same period in the previous year, the firm posted $0.05 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Equities analysts predict that Bumble Inc. will post 0.77 EPS for the current year.

Bumble Profile

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.